Agri Business

Potato futures gain on good spot demand

PTI New Delhi | Updated on February 18, 2011

Potato at a shop.File Photo- P. V. SIVAKUMAR   -  Business Line

Potato prices rose by Rs 5.40 to Rs 723 a quintal in the futures market on Friday as speculators enlarged their positions, influenced by strong demand in the spot market due to the ongoing marriage season. Restricted arrivals from producing regions also supported the uptrend.

At the Multi Commodity Exchange, potatoes for March contract delivery rose by Rs 5.40, or 0.75 per cent, to Rs 723 a quintal in a single lot.

Similarly, potatoes for April contract delivery also gained Rs 2.60, or 0.37 per cent, with an open interest for two lots.

Market analysts said increased buying by speculators on the back of rising demand in the spot market due to the ongoing marriage season mainly pushed up potato futures prices.

Published on February 18, 2011

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